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Conference seeks ways to boost Vietnam - Barcelona business connection A trade conference connecting firms of Vietnam and Spain’s Barcelona region was held in Hanoi on November 12. The event, jointly held by the Vietnam Chamber of Commerce and Industry (VCCI) and the Port of Barcelona, created a chance for businesses of the two sides to meet and seek cooperation. According to the VCCI, investors from Spain have paid increasing attention to Vietnam with their strengths in renewable energy, infrastructure, tourism, high technology, construction and architecture. Vietnam is Spain’s leading trade partner among the ASEAN countries. In the past 10 years, two-way trade increased 15 percent a year, hitting over 3 billion USD in 2017. The two sides aim to lift the figure to 5 billion USD by 2020. VCCI Vice Chairman Hoang Quang Phong said the countries’ achievements over the years are remarkable but still modest. Hence, Vietnam welcomes businesses from Barcelona to explore its … [Read more...] about BUSINESS NEWS IN BRIEF 14/11

G-bonds: easy to sell, harder to disburse capital The treasury will issue three-year bonds worth 5 trillion VND, five-year bonds worth 22 trillion VND and seven-year bonds worth 10 trillion VND. It will also issue 10-year bonds worth 2 trillion VND, 15-year bonds worth 7 trillion VND, 20-year bond worth 1 trillion VND, and the longest term of 30-year bonds worth 3 trillion VND. According to the treasury, the capital mobilisation from G-bonds in the first half of the year was effective, selling bonds worth more than 182 trillion VND, nearly 83 percent of the initial plan for the entire year. After the first half, the treasury decided to add bonds worth another 30 trillion VND - bringing the total for the year to 250 trillion VND. While the G-bond mobilisation was considered successful, the process of the G-bond capital disbursement was slow and failed to support the GDP growth in the context of low economic growth in the first six months, according to the Ministry of Planning and … [Read more...] about BUSINESS IN BRIEF 7/8

Survey shows many local firms upbeat about business A majority of domestic processing and manufacturing enterprises have expressed optimism about business prospects in the third quarter and the second half of this year as shown in a recent survey of the General Statistics Office (GSO). The survey showed 87.8% of respondents predicted their production would remain stable or grow in the third quarter. For the final six months of this year, 55.4% of firms expected their production to increase while 35.4% said it would remain stable. Only 12.2% and 9.3% of enterprises forecast their production to dip in the third quarter and the second half of the year respectively. Notably, 53.3% and 58% of respondents projected production in the foreign direct investment (FDI) sector would expand in the third quarter over quarter two and the last six months over the first half of last year respectively. Corresponding proportions are 50.5% and 54.2% for State-owned enterprises and 47.7% and 54.4% for … [Read more...] about BUSINESS IN BRIEF 2/7

TTC Sugar purchasing treasury shares The Thanh Thanh Cong - Bien Hoa JSC (TTC Sugar, stock code: SBT) began to purchase shares on April 18 to increase its treasury share (TS) holding and capital surplus, via order matching at market prices. It expects to continue to do so until May 17.Sao Do breaks through with brand powerVND20 trillion in credits for HCMC’s 2018 market stabilizationTaxi operators want ride-hailing cabs to change number plate colorHCMC taxman asks Grab to pay Uber transfer taxMinistry explains delay in announcing RON 95 petrol base price Da Lat flower growers need help: experts Around 300 million flowers from Da Lat are exported to markets such as Japan, South Korea and China every year, but experts say that more active networks among growers and buyers could help the industry reach its full potential. Da Lat has 9,000 hectares devoted to growing flowers, with many farmers using glasshouses which have increased output and profits, up to VND5 … [Read more...] about BUSINESS IN BRIEF 26/4

VN aims for stable timber supply
Viet Nam has drawn up plans to sustainably grow its wood product processing industry by 2020, according to the Minister of Agriculture and Rural Development.
The industry is to give priority to investing in and utilising domestic forests while reducing raw wood exports and better managing supply.
Minister Cao Duc Phat said the modernised and market related processing and trade of wood products would be key to economic development.
By 2015, small- and medium-sized factories would be reviewed and upgraded accordingly before attention shifts to large-scale establishments, Phat added.
Nguyen Ton Quyen, general secretary of the Viet Nam Wood Product Processing Association, said that quality and growth in the industry had been low and unsustainable.
Viet Nam needs an annual average 3-3.5 million cubic metres of raw wood materials while domestic supply is currently only capable of meeting 20 per cent and foreign imports 80 per cent.
By 2020, the nation … [Read more...] about BUSINESS IN BRIEF 19/3